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Updated over 4 years ago on . Most recent reply
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Property Management Agreement Contract - Does it seem reasonable?
Here's the compensation that the company is asking for. I know 10% and 1 months rent leasing fee sounds reasonable but did not expect the rest. Are items 3 - 7 normal?
1. Management - %10 of Gross Monthly Rent
2. For Leasing - Fee equal to one months rent or 6% of the Total Lease Value, whichever is higher
3. For Modernization - 4% of successful bid
4. For Refinancing - 2% of Note Amount (Gross)
5. For Sale - Negotiable: Based on Market Value vs. Listing Price, however, no less than 6%
6. For Fire Restoration - 1% of Total Loss. $500 Minimum Fee
7. Other - $150 fee for filing for and attending hearing